Finance
Citigroup Repeatedly Breached Fed Rules for Interbank Loans
- Bank is working to fix compliance with Federal Reserve rules
- CEO Fraser’s turnaround effort trips on regulatory issues
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Citigroup Inc. is working to fix compliance issues linked to rules that protect customers’ insured deposits, according to a person familiar with the matter.
The bank repeatedly breached the Federal Reserve’s Regulation W, which limits the transactions that banks can make to subsidiaries, Reuters reported Wednesday, citing an internal company document.